Subject: Rework Estate Taxes – Boost Spending
The following is a response to the article (
written by William B. Fuller and printed in the San Jose Mercury – Oct 5th, 2010.
William B. Fuller’s piece on reworking Estate Taxes to boost consumer spending includes three great tax ideas to boost the economy: #1. Bring estate tax back with a vengeance to 55%, #2. Defang the gift tax and #3, Tame the Generation Skipping Tax (GST). Number 4 could be to eliminate or reduce capital gains when selling a home over and above the $250,000 per person exemption. Surely, it would stimulate billions of dollars of home sales while increasing property tax revenue in the process here in California. Revenue needed so badly for schools.